Asian stocks muted after gains on Wall Street; trade concerns simmer

Elsewhere, fresh Zealand’s benchmark S&P/NZX 50 advanced 0.87 percent, outperforming some other markets inside region.

Concerns over trade relations between the entire world’s two largest economies eased somewhat. Analysts attributed the calmer state of markets overnight to the lack of substantial fresh developments on the U.S.-China trade spat.

U.S. President Donald Trump on Monday requested the U.S. Trade Representative to identify $0 billion in Chinese products of which might be subject to one more 10 percent tariff. China responded of which This specific might retaliate with countermeasures if the U.S. went through with those threats.

In some other trade-related news, the U.S. could be generating some progress on its relations with some other trading partners. German automakers are proposing to terminate the European Union’s import tax on U.S.-made cars, the Wall Street Journal reported Wednesday.

Also of note, Federal Reserve Chair Jerome Powell said of which the case for continued interest rate increases will be “strong.” Powell’s comments came after the Fed last week raised interest rates by a quarter percentage point.

Stateside, the Nasdaq composite rose 0.72 percent to close at a record 7,781.51 as well as also the S&P 500 advanced 0.17 percent. Gains came amid corporate deal-generating news as well as also followed declines seen earlier inside week on the back of an escalation in U.S.-China trade tensions.

On the commodities front, U.S. crude futures slipped 0.08 percent to trade at $65.66 per barrel after settling higher by almost 2 percent inside last session. Brent crude futures edged down by 0.28 percent to trade at $74.53.

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